Pactiv swings to quarterly loss, ups share buyback plan

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Pactiv Corp.
ptv
after Monday's closing bell reported a second-quarter net loss of $42 million, or 28 cents a share. In the same quarter last year, the company repoted net earnings of $52 million, or 33 cents a share. The Lake Forest, Ill.-based specialty packaging company said its results were impacted by its sale of its protective and flexible packaging businesses. Sales rose tp $707 million from $654 million last year. The company expects 2005 pro forma earnings of 91 cents to $1 a share, and for sales to grow 8% to 10%. Pactiv also said that it has increased its stock buyback plan by 6.1 million shares to 10 million.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.